Admission and Withdrawal of Members. AND TRANSFER OF MEMBERSHIP INTERESTS
Admission and Withdrawal of Members. No new Members (other than any transferee admitted as a substitute Member pursuant to Section 8.3(b)) (“Additional Members”) may be admitted to, and no Member may withdraw from, the Company, without the unanimous written consent of the Members. The capital contribution of any Additional Member, and any corresponding reductions in the Percentage Interests of the continuing Members, shall be determined by the Board in accordance with this Agreement, with the unanimous written consent of the Members. A Person shall be admitted as an Additional Member at the time such Person (i) executes this Agreement or a counterpart of this Agreement and executes a counterpart of any other Transaction Agreement requested by the Board; and (ii) pays in full the capital contribution of such amount as the Board may require. Upon such admission, the Board shall amend Exhibit A accordingly.
Admission and Withdrawal of Members. (a) A Person may be admitted to the Company as an Additional Member, may be a successor to part or all of the Interest of an existing Member, or may become a Substituted Member only with the prior written consent of the Managers. The consent of any Manager to these matters may be withheld for any reason in the Manager's sole and absolute discretion. Upon (i) approval of the admission of a Person as described in this Section; (ii) receipt of an executed signature page to this Agreement of such Additional Member or a Substitute Member (if such Person is not already a Member) agreeing to be bound by the terms and conditions hereof; (iii) receipt of such other documents or instruments as may be required in the discretion of each Manager in order to effect such Person's admission; and (iv) receipt of the Initial Contribution of such Person, if applicable, pursuant to Article III hereof, the Managers shall amend APPENDIX TWO accordingly. -------------
Admission and Withdrawal of Members. One or more additional member(s) may be admitted to the Company with the written consent of the Manager. The member may withdraw from the Company with the written consent of the Manager. Upon the admission to the Company of any additional member(s), if the Company then has two or more members, the members shall cause this Agreement to be amended and restated to reflect the admission of such additional member(s) and the initial capital contribution, if any, of such additional member(s) and the intention of the members to cause the Company to be classified as a partnership for United States federal, state and local income tax purposes, and to include such other provisions as the members may agree to reflect the change of status of the Company for a single member limited liability company to a limited liability company with two or more members.
Admission and Withdrawal of Members. The Withdrawing Member is hereby withdrawn as a member of the Company, the Managing Member is hereby admitted to the Company and appointed as the initial Managing Member of the Company.
Admission and Withdrawal of Members
